A conversation with Vikram Pandit, CEO of Citigroup
By Barry Ritholtz - November 26th, 2008, 12:30PM
In any great organization it is far, far safer to be wrong with the majority than to be right alone. —John Kenneth Galbraith
Macro Notes
US$ rally continuesPeter Boockvar
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
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November 26th, 2008 at 2:44 pm
Is it possible to short Vikram Pandit, if so I’m a huge naked shorter. His basic message: not our fault, we could have never known! pathetic.
November 26th, 2008 at 3:28 pm
This interview leaves me fuming. Rose asks real, pertinent questions and Pandit answers with one slogan after another. This imbecile just got bailed out with a huge amount of our money? This makes me question everything, and maybe those, like Mark Faber and Jim Rogers are on to something when they suggest these guys will be back for more and it will only end when the US declares bankruptcy.
November 26th, 2008 at 11:45 pm
Pandit the Bandit, an incompetent jerk.
November 27th, 2008 at 3:27 am
Right, no mistakes were made at Citi, he says, and no risk manager could have seen the housing crash coming. I guess that means no lessons have been learned from those non-mistakes, and nothing’s wrong with their risk management.
November 27th, 2008 at 9:01 am
It amazes me that this nincompoop is considered a financial brain who is among the smartest in the room. He had nothing new to offer except that he has been at Citi for 11 months and no more. How easy it is to say we were all in it together! Is is surprising that C will continue to remain in the quagmire till he is around and Robert Rubin to bail him out of his incompetence to protect his “reputation”. God Bless the Dollar now. That is really the only resort, isn’t it?